Vest Financial LLC Boosts Stock Position in EMCOR Group, Inc. (NYSE:EME)

Vest Financial LLC lifted its holdings in shares of EMCOR Group, Inc. (NYSE:EME - Free Report) by 48.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,794 shares of the construction company's stock after purchasing an additional 2,530 shares during the period. Vest Financial LLC's holdings in EMCOR Group were worth $2,881,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in EME. Norges Bank bought a new stake in shares of EMCOR Group during the 4th quarter worth $299,855,000. GAMMA Investing LLC raised its stake in EMCOR Group by 49,775.5% in the 1st quarter. GAMMA Investing LLC now owns 374,066 shares of the construction company's stock valued at $138,266,000 after acquiring an additional 373,316 shares during the period. Invesco Ltd. raised its stake in EMCOR Group by 28.0% in the 4th quarter. Invesco Ltd. now owns 1,318,494 shares of the construction company's stock valued at $598,465,000 after acquiring an additional 288,765 shares during the period. Ameriprise Financial Inc. raised its stake in EMCOR Group by 94.2% in the 4th quarter. Ameriprise Financial Inc. now owns 306,999 shares of the construction company's stock valued at $139,349,000 after acquiring an additional 148,915 shares during the period. Finally, First Trust Advisors LP raised its stake in EMCOR Group by 35.2% in the 4th quarter. First Trust Advisors LP now owns 496,436 shares of the construction company's stock valued at $225,332,000 after acquiring an additional 129,186 shares during the period. 92.59% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Robin A. Walker-Lee sold 947 shares of EMCOR Group stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $412.83, for a total transaction of $390,950.01. Following the sale, the director now owns 7,094 shares in the company, valued at $2,928,616.02. This trade represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Anthony Guzzi sold 7,000 shares of EMCOR Group stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $436.03, for a total transaction of $3,052,210.00. Following the sale, the chief executive officer now owns 208,989 shares in the company, valued at approximately $91,125,473.67. The trade was a 3.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,197 shares of company stock valued at $3,905,748 in the last 90 days. 0.83% of the stock is currently owned by insiders.

EMCOR Group Stock Performance

Shares of EMCOR Group stock traded up $6.05 during trading on Friday, hitting $490.11. The company's stock had a trading volume of 336,164 shares, compared to its average volume of 449,706. The company has a fifty day simple moving average of $424.01 and a two-hundred day simple moving average of $441.49. The company has a market capitalization of $21.94 billion, a PE ratio of 24.89 and a beta of 1.23. EMCOR Group, Inc. has a 52 week low of $319.49 and a 52 week high of $545.30.

EMCOR Group (NYSE:EME - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 EPS for the quarter, beating the consensus estimate of $4.57 by $0.84. EMCOR Group had a net margin of 6.51% and a return on equity of 34.99%. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the prior year, the firm posted $4.17 EPS. EMCOR Group's revenue for the quarter was up 12.7% on a year-over-year basis. As a group, analysts predict that EMCOR Group, Inc. will post 20.74 EPS for the current year.

EMCOR Group declared that its board has authorized a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its stock is undervalued.

EMCOR Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend was Thursday, April 17th. EMCOR Group's payout ratio is presently 4.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus lowered their price objective on EMCOR Group from $514.00 to $503.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen cut EMCOR Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, EMCOR Group has an average rating of "Moderate Buy" and a consensus price target of $494.50.

EMCOR Group Company Profile

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.